Mackenzie Financial Corp Lowers Position in Box, Inc. (NYSE:BOX)

Mackenzie Financial Corp cut its stake in shares of Box, Inc. (NYSE:BOX) by 13.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 277,286 shares of the software maker’s stock after selling 41,329 shares during the period. Mackenzie Financial Corp’s holdings in BOX were worth $7,331,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of BOX by 3.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock worth $419,000 after purchasing an additional 560 shares in the last quarter. Connable Office Inc. boosted its stake in shares of BOX by 3.8% in the 2nd quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock valued at $415,000 after purchasing an additional 573 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the last quarter. Diversified Trust Co raised its position in BOX by 2.9% in the 2nd quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock worth $713,000 after purchasing an additional 768 shares during the period. Finally, Covestor Ltd lifted its stake in BOX by 27.3% in the first quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock worth $122,000 after purchasing an additional 924 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $24.97, for a total value of $324,610.00. Following the completion of the transaction, the chief financial officer now owns 1,526,661 shares in the company, valued at approximately $38,120,725.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BOX news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total value of $329,200.00. Following the sale, the chief executive officer now owns 3,009,155 shares in the company, valued at $99,061,382.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $24.97, for a total transaction of $324,610.00. Following the transaction, the chief financial officer now directly owns 1,526,661 shares of the company’s stock, valued at approximately $38,120,725.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,500 shares of company stock valued at $1,724,915. 4.10% of the stock is currently owned by corporate insiders.

BOX Stock Down 0.1 %

Shares of BOX stock opened at $32.71 on Tuesday. The stock has a fifty day moving average of $30.13 and a 200 day moving average of $27.96. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 44.81 and a beta of 0.85. Box, Inc. has a 52 week low of $23.29 and a 52 week high of $33.95.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The firm had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Box, Inc. will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BOX has been the topic of a number of recent research reports. Citigroup raised their price objective on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Monness Crespi & Hardt raised BOX to a “hold” rating in a research note on Friday, August 16th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. UBS Group raised their target price on shares of BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley upped their price target on shares of BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, BOX presently has an average rating of “Moderate Buy” and an average price target of $31.22.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.